04:52 PM EDT, 07/11/2024 (MT Newswires) -- US benchmark equity indexes closed mostly lower Thursday as markets evaluated consumer inflation data for June and awaited the latest financials results by major banks.

The Nasdaq Composite declined 2% to 18,283.4, while the S&P 500 fell 0.9% to 5,584.5, both retreating from their record high closing levels reached Wednesday. The Dow Jones Industrial Average rose 0.1% to 39,753.8. Technology and communication services saw the steepest declines among sectors, while real estate led the gainers.

In economic news, the US consumer price index fell 0.1% in June after being unchanged the month before, according to the Bureau of Labor Statistics. Analysts were expecting a 0.1% gain, according to a Bloomberg-compiled survey. Annually, inflation slowed to 3% last month from May's 3.3%, cooling more than the 3.1% Wall Street consensus.

"This better-than-expected inflation reading opens the door wide open for a September rate cut from the (Federal Reserve)," BMO said in a note to clients. "The report makes a very convincing case that consumer inflation has swiftly resumed its downward path after an unanticipated surge in the first quarter and is likely well on its way to a sustainable 2%."

Official US producer prices data for June are scheduled to be released Friday.

Fed Chair Jerome Powell said earlier this week that inflation in the US seems to have improved in recent months, and "more good data would strengthen" the case for potential monetary policy easing.

The US two-year yield tumbled 11.7 basis points to 4.51% Thursday, while the 10-year rate dropped 6.8 basis points to 4.21%.

Weekly applications for unemployment insurance in the US declined more than market expectations, government data showed.

West Texas Intermediate crude oil rose 1.1% to $82.96 a barrel.

Banking giants JPMorgan Chase ( JPM ) , Wells Fargo ( WFC ) and Citigroup ( C ) are scheduled to report their latest quarterly financial results Friday.

In company news, Tesla (TSLA) shares slid 8.4%, the steepest decline on the S&P 500 and the Nasdaq. The electric vehicle maker is pushing back its robotaxi event to October from August to give project teams more time, Bloomberg News reported, citing unnamed sources.

Delta Air Lines ( DAL ) was among the worst performers on the S&P 500, down 4%, after the carrier issued a downbeat earnings guidance for the ongoing quarter as its earnings during the three months to June fell short of market expectations.

SBA Communications ( SBAC ) shares jumped 7.5%, the top gainer on the S&P 500. The real estate investment trust said late Wednesday it appointed Saul Kredi as chief accounting officer, succeeding Brian Lazarus, who will retire at the end of this year.

Gold increased 1.7% to $2,419.70 per troy ounce, while silver jumped 2.1% to $31.66 per ounce.